Tata Sons has quoted a price higher than SpiceJet promoter Ajay Singh for Air India in a preliminary bidding round, two people told Mint.
As per reports, Tata group and SpiceJet’s Singh, in his individual capacity, have been the only shortlisted candidates to bid for the carrier.
Air India has around $10 billion worth of debt, of which Tata Sons may ask the government to take care of more than $5 billion.
Baring PE Asia had acquired about 71% stake in Hexaware in 2013 and 2014 by shelling out about Rs 2,880 crore and invested up to Rs 5,406 crore to acquire the remaining stake to take it private.
Ares Management Corp-backed distressed asset buyer Assets Care & Reconstruction Enterprise (Acre) has agreed to buy a majority of assets owned by Sameer Gehlaut-promoted Indiabulls ARC, two people told The Economic Times.
“Out of total assets worth Rs 2,100 crore -- mostly small retail loans -- Indiabulls ARC is selling assets worth Rs 1,800 crore to Acre. The transaction is very close to completion,” said one of the persons cited above.
Indiabulls plans to wind down the rest of the book in line with its objective to focus on new businesses like telemedicine, healthcare and fintech.
“It may spend up to $50 million to acquire Gradeup to strengthen its test preparation segment,” the person added.
The discussions are at the post-term-sheet stage, the source said. “Both deals are likely to be closed by the next month,” the person added.
“Byju’s is likely to shell out up to $350 million to acquire Gurugram-based Great Learning,” said the person.